Given how chips are (somewhat) the new oil, this will eventually trickle out into every element of the economy. How many computers do your bank, your government, your supermarket, the factories etc… use up on a year to year basis? Many will have fixed price contracts for the next 2-3 years and existing stock for 4-5 more, others will be shit out of luck.

Part of the idea behind trickle down economics was that rich twats don’t spend much on consumption as a % of their income, so their impact on inflation is minimal. If AI can’t deliver the 10x productivity gains envisioned by venture capitalists (lmao), we’re in for a rough few years.